Strong Customer Growth
The combined utility customer growth rate was 10.9% for the 12 months ended September 30, driven largely by gas utility acquisitions in Texas. Northwest Natural Water also posted a 4.1% increase in meter growth.
Dividend Increase
The Board approved a dividend increase, marking the 70th consecutive year of annual dividend increases. Northwest Natural Holdings is one of only three companies on the New York Stock Exchange with this record.
Constructive Regulatory Outcomes
Northwest Natural received a constructive order from the Oregon Public Utility Commission, resulting in a revenue requirement increase of $20.7 million and new rates effective October 31.
Texas Expansion and Legislation
SiEnergy posted a nearly 35% increase in customer backlog and is supported by Texas House Bill 4384, which enables real-time recovery of distribution investments.
Renewables and Water Utility Growth
Renewables business continues to deliver steady results, and the water segment showed a 4.1% customer base growth, including three small acquisitions.